Consumption is gradually picking up thanks to real wages that rose by an average of close to 10% in the first half of the year.Continue reading
The autumn session of the National Assembly began with Prime Minister Viktor Orbán’s opening address, in which he highlighted Hungary’s resilience during the flood crisis, but also improvement in education, tourism growth and inflation control. He also touched on migration, the Ukraine war, and Hungary’s economic future.
As Magyar Nemzet reported, the National Assembly’s opening session marked a pivotal point in setting the tone for the country’s political and economic landscape. Viktor Orbán took the stage to address topics ranging from economic development to Hungary’s unique approach to neutrality amidst the growing divide between the West and East.
Economic growth, inflation control, and energy independence
Viktor Orbán’s speech focused on Hungary’s positive growth trends despite the challenges posed by global economic shifts.
The Prime Minister noted that Hungary ranked 11th out of 27 EU countries in economic growth and 4th in investment as a percentage of GDP.
He shared that real wages had risen for 12 consecutive months, with average gross wages reaching HUF 636,700 (EUR 1,604), a 14% increase from last year. In addressing inflation, Mr. Orbán reported that the government had successfully reduced inflation from double digits to 3.4%, and he reiterated the government’s commitment to keeping public debt on a downward trajectory, aiming to reduce it from 75% to below 50% of GDP.
In his speech, the Prime Minister also emphasized the importance of energy independence, referencing Hungary’s third-place global ranking in solar energy usage and the MVM’s (Hungary’s electricity service provider) acquisition of a stake in a major natural gas field, calling it a “historic” achievement.
Tourism boom and the buyback of Budapest Ferenc Liszt International Airport
Hungary’s tourism sector saw record growth during the summer months, according to Viktor Orbán. “Never before have so many of our fellow citizens holidayed within our borders, and never before have so many tourists visited our country,” he stated, adding that 17.5 million passengers passed through Budapest Ferenc Liszt International Airport over the summer.
The airport, now back in national hands after 20 years, is seen as a crucial asset in Hungary’s economic and tourism development.
In his address, Viktor Orbán also touched on Hungary’s broader investments in solar energy and natural gas exploration, positioning the country as a leader in the transition to energy independence.
Neutral economic policy in a divided world economy
A significant portion of the Prime Minister’s speech was dedicated to Hungary’s foreign policy, particularly in relation to its economic positioning between the Eastern and Western blocs. He highlighted the increasing division in the world economy and criticized the European Union’s bloc politics.
Brussels is becoming more and more committed to bloc politics, with the tone and spirit of the Cold War becoming more prevalent,” Mr. Orbán warned.
He stressed that Hungary must stay neutral, avoid being drawn into geopolitical conflicts, and continue fostering economic relations with both East and West, focusing on what benefits the Hungarian economy. His vision for Hungary’s future, as laid out in his speech, hinges on maintaining sovereignty, building a neutral economic policy, and continuing the country’s independent path in a rapidly changing global landscape.
Migration policies
In his speech, Viktor Orbán firmly addressed the issue of migration, asserting that the era of free movement in Europe was coming to an end. He emphasized Hungary’s strong stance against illegal immigration, criticizing Western European countries for their failure to follow Hungary’s advice on border control.
The PM stated, “Hungary must pay for defending Europe,” highlighting the sacrifices made by the country to protect not only its own borders but also those of Europe.
He warned that if the EU institutions continues to punish Hungary, the country would respond by sending migrants to the heart of Brussels. Viktor Orbán reinforced that Hungary’s migration policy is rooted in national governance and sovereignty, and that the protection of these principles remains a top priority.
Prime Minister Viktor Orbán speaking at the National Assembly’s opening session on September 30. 2024. Photo: MTI/Koszticsák Szilárd
We are not happy that we were right (on the issue of migration). It is still not too late to come to our senses, but unfortunately that is not what we see,” the Prime Minister concluded.
On the state of the Russian-Ukrainian War
Prime Minister Viktor Orbán also addressed the war in Ukraine, criticizing the West for, what he called, its “reckless” involvement, for his part advocating for a peaceful resolution. He emphasized the need for a “truce and peace process,” highlighting Hungary’s initiative in launching a peace mission, which led to the formation of the Friends of Peace Group in the United Nations.
Mr. Orbán firmly stated Hungary’s refusal to supply arms to Ukraine, reinforcing the nation’s commitment to a neutral position in the conflict.
The Prime Minister’s call for Hungary to adopt a neutral stance in the growing divide between the West and East reflects a broader strategy to preserve national sovereignty and ensure that Hungary can thrive in an increasingly polarized world.
Via Magyar Nemzet, miniszterelnok.hu; Featured Image: MTI/Koszticsák Szilárd
